10 new case studies · 14 news items · updated 25 Oct 2026ContactEducation only · not investment advice
Manage Our FinanceIndian stock case studies · every morning

Today › Security & surveillance products › Aditya Infotech

Security & surveillance products Historical case study · data as of 22 Jul 2026 · published 25 Oct 2026 (95 days later)

Aditya Infotech — 100-point case study

How Aditya Infotech looked on 50 technical and 50 fundamental measures on 22 Jul 2026 — and what happened over the next three months. Education only; not a current view.

CodesNSE: CPPLUS · BSE: 544466
Close on 22 Jul 2026₹3,446.30
Market cap then₹42,261 crore
ValuationP/E 114.8× · P/B 22.52×
MomentumRSI (14) 47 · 1-year return n/a
Next 3 months+10.2% vs Nifty 50 -5.8% (to 23 Oct 2026)

Scorecard

Technical — 50 points

13 bullish · 21 neutral · 3 caution · 12 bearish — the picture was mixed.

Fundamental — 50 points

11 bullish · 31 neutral · 6 caution · 1 bearish — the picture leaned positive.

Price chart

7991,8082,8183,8274,836Oct 25Jan 26Apr 26Jul 26Oct 26R2 3,866R1 3,750S1 3,415S2 3,265Snapshot 22 JulWhat happened next →
Close (to snapshot) Close (after) 50-day avg 200-day avg Support Resistance
Data note: Aditya Infotech (CP PLUS brand) listed on 5 Aug 2025, so the price history before the snapshot covers about 236 trading days rather than a full ~250. Long-window indicators such as the 200-day average and 52-week range use that shorter history.

Technical analysis — 50 points

Calculated by code from daily prices up to 22 Jul 2026. Standard formulas (RSI, MACD, ADX use Wilder smoothing).

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Trend

#PointReadingTagCommentary
1Short-term trend (20 days)slope -0.03%/dayNeutralOver the last 20 sessions the regression line of closing prices was falling about 0.03% a day — a flat, sideways phase.
Bullish slope above +0.10% a day (short-term uptrend) · Bearish slope below –0.10% a day (short-term downtrend) · Neutral between the two: a flat, sideways phase.
2Medium-term trend (~5 months)3M return +52.6%BullishThe 100-session trend line was up (+1.00%/day) and the stock was +52.6% over three months, so the medium-term picture was bullish.
Bullish slope above +0.05% a day · Bearish slope below –0.05% a day · Neutral in between.
3Long-term trend (1 year)1Y return n/aNeutralThe stock had less than a year of trading history at the snapshot, so a 1-year return cannot be calculated.
Bullish up more than 10% in a year · Bearish down more than 10% in a year · Neutral between –10% and +10%.
4Weekly chart trend10W 3,370.51 / 30W 2,313.04BullishOn the weekly chart the stock showed a weekly close above a rising 10-week and 30-week average stack.
Bullish weekly close above the 10-week average, which is above the 30-week · Bearish weekly close below the 10-week average, which is below the 30-week · Neutral when they are tangled.
5Swing structure (highs/lows)last highs 3,714.40→3,787.00; lows 2,304.90→3,415.00BullishThe two most recent swing points showed higher swing highs and higher swing lows — classic uptrend structure.
Bullish higher highs and higher lows (uptrend structure) · Bearish lower highs and lower lows (downtrend structure) · Neutral when one is higher and the other lower.
6ADX (14) — trend strength34.2BearishADX at 34.2 shows a strong trend in force. ADX measures strength only, not direction.
Bullish ADX 20 or more with +DI above –DI (a real trend, pointing up) · Bearish ADX 20 or more with –DI above +DI (a real trend, pointing down) · Neutral below 20: no clear trend. 20–30 is a moderate trend, above 30 a strong one.
7+DI vs –DI+DI 21.1 / –DI 22.4Bearish–DI was above +DI: sellers had the upper hand in directional movement.
Bullish +DI above –DI · Bearish –DI above +DI · No neutral zone for this point.

B. Moving averages

#PointReadingTagCommentary
8Price vs 20-day SMA3,605.13 (-4.4%)BearishClose of 3,446.30 was 4.4% below the 20-day SMA — the short-term trend filter was negative.
Bullish close above the average · Bearish close below the average · No neutral zone.
9Price vs 50-day SMA3,262.90 (+5.6%)BullishClose of 3,446.30 was 5.6% above the 50-day SMA — the medium-term trend filter was positive.
Bullish close above the average · Bearish close below the average · No neutral zone.
10Price vs 200-day SMA2,035.38 (+69.3%)BullishClose of 3,446.30 was 69.3% above the 200-day SMA — the long-term trend filter was positive.
Bullish close above the average · Bearish close below the average · No neutral zone.
119 / 21 EMA crossover9E 3,575.65 / 21E 3,548.60BullishThe 9-day EMA was above the 21-day EMA; the last crossover happened on 04 Feb 2026.
Bullish 9-day above 21-day · Bearish 9-day below 21-day · No neutral zone.
12Golden / death cross (50 vs 200)no cross in data windowBullishThe 50-day average was 60.3% above the 200-day. No 50/200 crossover occurred in the data window.
Bullish 50-day above 200-day (after a “golden cross”) · Bearish 50-day below 200-day (after a “death cross”) · No neutral zone.
1350-day SMA slope+19.3% in 20 sessionsBullishThe 50-day average rose 19.3% over the past month — rising.
Bullish rose more than 0.5% · Bearish fell more than 0.5% · Neutral in between: flattening.
14MA ribbon alignment3,605 / 3,263 / 2,596 / 2,035BullishThe 20/50/100/200-day averages were perfectly stacked bullish (20 > 50 > 100 > 200).
Bullish neatly stacked 20 > 50 > 100 > 200 · Bearish neatly stacked 20 < 50 < 100 < 200 · Neutral when tangled (a transition or range).
15Monthly anchored VWAP3,609.15 (-4.5%)BearishAnchored to the start of July, the volume-weighted average price was 3,609.15; the close was below it — buyers that month were on average under water.
Bullish close above VWAP (that month’s buyers on average in profit) · Bearish close below VWAP · No neutral zone.

C. Momentum

#PointReadingTagCommentary
16RSI (14)47.0NeutralRSI at 47.0 was in the neutral 45–55 zone.
Bullish RSI 55–70 (positive momentum, not stretched) · Bearish RSI 30–45 (soft momentum) · Neutral 45–55. Caution at 70 or above (overbought) or 30 or below (oversold).
17RSI divergence (last 40 days)bearish divergenceCautionComparing the last 20 sessions with the 20 before: bearish divergence: price made a higher high but RSI made a lower high.
Bullish bullish divergence: price made a lower low but RSI a higher low · Caution for a bearish divergence (price higher high, RSI lower high). Neutral when RSI moved in line with price.
18MACD line vs signalMACD 72.37 / signal 119.55BearishMACD was below its signal line — momentum turning or staying negative.
Bullish MACD above signal · Bearish MACD below signal · No neutral zone.
19MACD histogram (5-day change)-15.77 → -47.18BearishThe histogram fell over the last five sessions, meaning momentum was weakening.
Bullish histogram rising (momentum improving) · Bearish histogram falling (momentum weakening) · No neutral zone.
20MACD vs zero line72.37BullishMACD above zero means the 12-day EMA was above the 26-day EMA — a positive momentum regime.
Bullish MACD above zero · Bearish MACD below zero · No neutral zone.
21Stochastic (14,3,3)%K 21.8 / %D 35.9BearishSlow stochastic at 21.8 was mid-range with %K below %D.
Bullish between 20 and 80 with %K above %D · Bearish between 20 and 80 with %K below %D · Caution above 80 (overbought) or below 20 (oversold).
22Williams %R (14)-85.1Caution%R of -85.1 put the close near the bottom of its 14-day range.
How to read: Caution above –20 (near the top) or below –80 (near the bottom). Neutral in the middle. This point is never tagged Bullish or Bearish.
23CCI (20)-168BearishCCI at -168 signalled an unusually strong downward deviation (<–100).
Bullish above +100 (unusually strong upward move) · Bearish below –100 (unusually strong downward move) · Neutral within ±100.
24Rate of change (10-day)-3.0%BearishPrice changed -3.0% over ten sessions.
Bullish up more than 2% · Bearish down more than 2% · Neutral between –2% and +2%.

D. Volatility

#PointReadingTagCommentary
25Bollinger Band position (%B)%B 0.03 (bands 3,436.32–3,773.94)Neutral%B of 0.03 — inside the bands, lower half.
How to read: Caution above 1 or below 0 (outside the bands — an overextended move). Neutral inside the bands.
26Bollinger width / squeezewidth 9.4% (6th pct of 6M)CautionBand width was at the 6th percentile of the last six months. A squeeze like this often precedes a larger move (direction unknown).
How to read: Caution when the width is in the lowest 15% of six months (a “squeeze” that often comes before a bigger move, direction unknown). Neutral otherwise.
27ATR (14)₹152.01 (4.4% of price)NeutralA typical day's range was about ₹152.01, or 4.4% of the price — useful for judging how much 'normal noise' to expect.
How to read: Information only. A higher % means bigger normal daily swings.
28Historical volatility (30-day)36.4% vs 1Y 44.2%NeutralAnnualised 30-day volatility was 36.4%, close to the one-year level of 44.2%.
How to read: Caution when 30-day volatility is more than 1.25× the one-year level. Neutral otherwise.
29Keltner Channel (20, 2×ATR)3,250.15–3,859.95NeutralThe close was inside the channel, so no volatility breakout.
Bullish close above the upper channel (strong upward push) · Bearish close below the lower channel · Neutral inside the channel.
30Beta vs Nifty 50 (1Y daily)0.68NeutralA beta of 0.68 means the stock tended to move less than the Nifty 50 day to day.
How to read: Information only. Above 1.1 moves more than the market, below 0.9 less, around 1 in line.

E. Volume & money flow

#PointReadingTagCommentary
31Volume vs 20-day averagelast day 0.80× / 5-day 0.88×NeutralThe final session traded 0.80× its 20-day average volume and the last five sessions averaged 0.88× — normal participation.
How to read: Information only. Above 1.2× is heavier than usual participation, below 0.8× lighter.
32Up-day vs down-day volume (20d)ratio 1.13NeutralAverage volume on up days was 1.13× that on down days — balanced.
Bullish ratio above 1.15 (accumulation-leaning) · Bearish ratio below 0.85 (distribution-leaning) · Neutral between 0.85 and 1.15.
33On-Balance Volume (20d)OBV fallingBearishOBV fell over the month while price fell — volume confirmed the price move.
Bullish OBV rising · Bearish OBV falling · No neutral zone.
34Accumulation/Distribution linefalling (20d)BearishThe A/D line fell, meaning closes tended to be in the lower part of daily ranges on meaningful volume.
Bullish A/D line rising · Bearish A/D line falling · No neutral zone.
35Chaikin Money Flow (20)-0.12BearishCMF at -0.12 indicated net outflows.
Bullish above +0.05 (net inflows) · Bearish below –0.05 (net outflows) · Neutral between –0.05 and +0.05.
36Money Flow Index (14)46.5NeutralMFI, a volume-weighted RSI, was 46.5.
Bullish MFI 55–80 · Bearish MFI 20–45 · Neutral 45–55. Caution above 80 (overbought) or below 20 (oversold).
37Liquidity (avg daily turnover)₹74 cr/dayNeutralAbout ₹74 crore changed hands per day on average over 20 sessions — liquid.
How to read: Information only. Above ₹500 crore a day is highly liquid, above ₹50 crore liquid, below that moderately liquid.

F. Price levels

#PointReadingTagCommentary
38Support levels (S1/S2/S3)3,415.00 / 3,265.20 / 2,304.90NeutralNearest support (prior swing lows) sat at 3,415.00, 0.9% below the close, then 3,265.20, 2,304.90.
How to read: Information only. Levels to watch, not good or bad.
39Resistance levels (R1/R2/R3)3,749.90 / 3,866.00NeutralNearest resistance (prior swing highs) sat at 3,749.90, 8.8% above the close, then 3,866.00.
How to read: Information only.
40Monthly pivot points (for next month)P 3,561.63 | R1 3,750.67 | S1 3,257.27NeutralClassic pivots from July's high/low/close gave a pivot of 3,561.63; the close was below it.
How to read: Information only.
41Fibonacci retracement (6M swing)23.6% 3,272 | 38.2% 2,904 | 50.0% 2,607 | 61.8% 2,310NeutralMeasuring the 6-month rise from 1,348.30 to 3,866.00, the close was nearest the 23.6% retracement at 3,271.82.
How to read: Information only.
4252-week high / lowH 3,866.00 / L 1,015.00NeutralThe close was 10.9% below the 52-week high and 239.5% above the 52-week low.
Bullish within 5% of the 52-week high · Bearish within 5% of the 52-week low · Neutral in between.
43Unfilled price gaps (6M)3 open; latest gap-up 01 Jun at 2,903.50NeutralThere were 3 unfilled gap(s). The latest, a gap-up on 01 Jun 2026, left an open level at 2,903.50 that price had not revisited.
How to read: Information only.

G. Patterns

#PointReadingTagCommentary
44Price structure / chart patternpullback inside a larger uptrendNeutralRule-based pattern scan: pullback inside a larger uptrend. (Classical patterns like head-and-shoulders are judgement calls; we report only what the rules detect.)
Bullish rising channel (both trends up) · Bearish falling channel (both trends down) · Neutral for tight consolidation, a bounce in a downtrend, a pullback in an uptrend, or a sideways range.
45Breakout / breakdown (20-day)range 3,415.00–3,866.00NeutralThe close was inside the prior 20-day range of 3,415.00–3,866.00.
Bullish close above the 20-day high (breakout) · Bearish close below the 20-day low (breakdown) · Neutral inside the range.
46Latest candlestickOrdinary red candleNeutralOn 22 Jul the candle opened 3,491.20, ranged 3,372.60–3,553.00 and closed 3,446.30: Ordinary red candle. Single candles are weak signals on their own.
Bullish hammer, bullish engulfing or bullish marubozu · Bearish shooting star, bearish engulfing or bearish marubozu · Neutral for a doji, inside bar or ordinary candle. Single candles are weak signals.
47Ichimoku Cloudcloud 2,734.95–3,211.95; Tenkan 3,619.30 / Kijun 3,574.90BullishPrice was above the cloud and the Tenkan line was above the Kijun line — a bullish Ichimoku setup.
Bullish close above the cloud · Bearish close below the cloud · Neutral inside the cloud.

H. Relative strength & summary

#PointReadingTagCommentary
48Relative strength vs Nifty 501M -4.7% / 3M +55.0%BullishThe stock outperformed the Nifty 50 by 55.0 points over three months and underperformed by 4.7 points over one month.
Bullish ahead of the Nifty 50 by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
49Relative strength vs Nifty 50 (6M)6M +149.5%BullishNo sector index in today's data set, so we show the 6-month comparison instead: 149.5 points ahead of the Nifty 50.
Bullish ahead by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
50Technical summary13 bullish · 12 bearish · 21 neutral · 3 cautionNeutralAcross the 49 readings the technical picture was mixed. Levels that mattered: support 3,415.00, resistance 3,749.90. This is a description of the chart on 22 Jul 2026, not a forecast. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell.
Bullish bullish tags beat bearish ones by 5 or more (“positive”) · Bearish bearish tags beat bullish ones by 5 or more (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

Fundamental analysis — 50 points

Uses only results published by 22 Jul 2026: FY26 annual (Apr 2025–Mar 2026), the Jan–Mar 2026 quarter and the Jun 2026 shareholding. ₹ crore, consolidated unless stated. Valuation uses the 22 Jul 2026 close.

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Valuation

#PointReadingTagCommentary
1P/E (trailing 12 months)114.8×NeutralAt ₹3,446.30 the market valued the company at about ₹42,261 crore, or 114.8× the ₹368 crore profit of the four quarters to Mar 2026. That is a premium multiple — the market expected growth.
How to read: Information only. Below 15 is a low multiple, 15–30 moderate, above 30 a premium (the market expects growth). Compare with peers and the company’s own history.
2Price / Book22.52×NeutralMarket cap was 22.52× the Mar 2026 book value (equity + reserves) of ₹1,877 crore.
How to read: Information only. Main yardstick for banks; asset-light businesses usually trade at high P/B.
3Price / Sales10.01×NeutralThe company was valued at 10.01× its trailing-12-month sales of ₹4,221 crore.
How to read: Information only.
4EV / EBITDA (approx.)75.0×NeutralEnterprise value (market cap + ₹256 cr borrowings; cash not netted) was 75.0× trailing operating profit of ₹567 crore.
How to read: Information only. Lower means cheaper relative to operating profit.
5Earnings yield0.9%NeutralThe inverse of P/E: each ₹100 invested bought about ₹0.9 of annual earnings. Investors often compare this with the ~6–7% yield on 10-year government bonds.
How to read: Information only. Often compared with the ~6–7% yield on 10-year government bonds.
6PEG (P/E ÷ 3-yr profit CAGR)2.28CautionP/E of 114.8 divided by 3-year profit growth of 50.5% a year gives a PEG of 2.28. Below 1 is often read as growth being cheaply priced; above 2 as expensive. Note: the Sep 2024 quarter carried unusual other income of ₹252 crore — a one-off that distorts year-on-year profit comparisons.
Bullish below 1 (growth cheaply priced) · Bearish above 2 (growth expensively priced) · Neutral 1–2, or when profit did not grow (not meaningful).
7Dividend yield (trailing 12M)0.05%NeutralDividends with ex-dates in the 12 months to the snapshot totalled ₹1.64 a share, a 0.05% yield on the ₹3,446.30 price.
Bullish above 3% · Neutral at 3% or less. Never tagged Bearish.
8Market capitalisation₹42,261 crNeutralAt about ₹0.42 lakh crore the company was a mid-cap.
How to read: Information only. Above ₹1 lakh crore large-cap, ₹30,000 crore–₹1 lakh crore mid-cap, below that small-cap (our rule of thumb).
9Graham number vs price₹321.48 vs ₹3,446.30NeutralBenjamin Graham's conservative fair-value yardstick √(22.5 × EPS × book value per share) came to ₹321.48; the price was 972% above it. Quality franchises usually trade above this number.
Bullish price below the Graham number · Neutral when the price is above it (most quality companies are).

B. Growth

#PointReadingTagCommentary
10Revenue growth FY26 (YoY)+35.6%BullishRevenue for FY26 was ₹4,221 crore, +35.6% versus FY25.
Bullish above 10% · Bearish below 0% (revenue fell) · Neutral 0–10%.
11Q4 FY26 revenue growth (YoY)+45.5%BullishThe Jan–Mar 2026 quarter brought ₹1,422 crore of revenue, +45.5% on the same quarter a year earlier.
Bullish above 10% · Bearish below 0% · Neutral 0–10%.
12Net profit growth FY26 (YoY)+4.8%NeutralFY26 net profit was ₹368 crore, +4.8% on FY25's ₹351 crore. Note: the Sep 2024 quarter carried unusual other income of ₹252 crore — a one-off that distorts year-on-year profit comparisons.
Bullish above 10% · Bearish below 0% · Neutral 0–10%. Caution if a one-off item distorted the figure.
13Q4 FY26 profit growth (YoY)+207.3%CautionQuarterly profit was ₹169 crore versus ₹55 crore a year earlier (+207.3%). Note: the Sep 2024 quarter carried unusual other income of ₹252 crore — a one-off that distorts year-on-year profit comparisons.
Bullish above 10% · Bearish below 0% · Neutral 0–10%.
14Revenue CAGR (3 years)22.7%BullishRevenue compounded at 22.7% a year from FY23 to FY26.
Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%. Caution if an acquisition inflated it.
15Profit CAGR (3 years)50.5%CautionNet profit compounded at 50.5% a year from FY23 to FY26. Note: the Sep 2024 quarter carried unusual other income of ₹252 crore — a one-off that distorts year-on-year profit comparisons.
Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
16Revenue CAGR (5 years)29.7%BullishOver five years (FY21–FY26) revenue compounded at 29.7% a year.
Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
17EPS growth FY26 (reported)-2.4%CautionReported EPS went from ₹32.00 to ₹31.24 (-2.4%). Differences from profit growth come from changes in share count (bonus, buyback, new issues). Note: the Sep 2024 quarter carried unusual other income of ₹252 crore — a one-off that distorts year-on-year profit comparisons.
Bullish above 10% · Bearish below 0% · Neutral 0–10%.

C. Profitability

#PointReadingTagCommentary
18Operating margin FY2613%NeutralOperating profit (EBITDA) was 13% of sales in FY26 versus 8% in FY25.
How to read: Information only — normal margins differ a lot by industry.
19Operating margin trend (4 quarters)8% → 12% → 12% → 18%BullishQuarterly margins moved from 8% to 18% over the last four quarters — expanding.
Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral when broadly stable.
20Net profit margin FY268.7%Neutral₹8.7 of every ₹100 of revenue ended up as net profit in FY26.
How to read: Information only.
21Return on equity FY2625.4%BullishFY26 profit was 25.4% of average shareholders' equity. Above ~15% is generally considered good; below 10% weak.
Bullish above 18% · Bearish below 10% · Neutral 10–18%. Around 15% or more is generally considered good.
22ROCE FY2629%BullishReturn on capital employed (debt + equity) was 29% in FY26.
Bullish above 20% · Bearish below 10% · Neutral 10–20%.
23Return on assets FY269.22%NeutralNet profit was 9.22% of total assets.
Bullish banks only: 1.5% or more · Bearish banks only: below 1% · Information only for non-banks.
24Effective tax rate FY2625%NeutralThe company paid about 25% of pre-tax profit as tax; India's base corporate rate is ~25%.
How to read: Information only. India’s base corporate rate is about 25%.
25Other income share of pre-tax profit3%NeutralNon-operating 'other income' of ₹13 crore made up 3% of pre-tax profit.
How to read: Caution above 25% (headline profit leans on non-core income). Neutral otherwise.

D. Balance sheet

#PointReadingTagCommentary
26Debt / equity0.14BullishBorrowings of ₹256 crore were 0.14× equity — very low leverage.
Bullish below 0.3 (very low leverage) · Bearish above 1 (high leverage) · Neutral 0.3–1.
27Debt / EBITDA0.45×BullishDebt equalled 0.45 years of FY26 operating profit.
Bullish below 1× · Bearish above 3× · Neutral 1–3×.
28Interest coverage17.4×BullishEarnings before interest and tax covered interest cost 17.4 times.
Bullish above 8× · Bearish below 3× · Neutral 3–8×, or not meaningful when interest is negligible.
29Book value growth+84.4%BullishShareholders' equity grew +84.4% from ₹1,018 crore to ₹1,877 crore in FY26.
Bullish above 10% (banks: above 12%) · Bearish below 0% (non-banks only) · Neutral otherwise.
30Capital work in progress₹84 cr (10% of fixed assets)NeutralProjects under construction (CWIP) were 10% of fixed assets — a modest pipeline.
How to read: Information only. Above 20% means a big expansion pipeline that is not yet earning.
31Working capital days74 daysNeutralWorking capital tied up equalled 74 days of sales (FY25: 9). Negative means suppliers/customers fund operations.
How to read: Information only. Lower is generally more efficient; negative means suppliers or customers fund the business.
32Cash conversion cycle61 daysNeutralIt took 61 days to turn inventory and receivables into cash, net of supplier credit.
How to read: Information only. Shorter is generally better.
33Debtor days121 (FY25 122)NeutralCustomers took 121 days on average to pay, versus 122 a year earlier.
How to read: Caution when debtor days rose more than 20% in a year (collections stretching). Neutral otherwise.

E. Cash flow

#PointReadingTagCommentary
34Operating cash flow FY26₹13 crNeutralThe business generated ₹13 crore of operating cash in FY26 versus ₹27 crore in FY25.
Bullish positive and higher than the year before · Bearish negative · Neutral when positive but lower. Information only for banks.
35Free cash flow FY26n/aNeutralFree cash flow line not available on source page.
Bullish positive · Bearish negative · Neutral when not available.
36Cash conversion (CFO ÷ net profit)0.04×CautionOperating cash flow was 0.04× reported profit — cash lagged profits; worth watching.
Bullish above 1× (profits well backed by cash) · Caution below 0.7×. Neutral 0.7–1×.
37Free-cash-flow yieldn/aNeutralNot available.
Bullish above 4% · Neutral at 4% or less.
38Free cash flow — 3-year totaln/aNeutralNot available.
Bullish positive total · Bearish negative total · Neutral when not available.
39Capex FY26 (CFO – FCF)n/aNeutralNot available.
How to read: Information only.

F. Dividends & shareholder returns

#PointReadingTagCommentary
40Dividend payout ratio FY265%NeutralThe company paid out about 5% of FY26 profit as dividends.
How to read: Information only. High payout suits mature businesses; growing firms often keep more.
41Dividend consistency (3 years)0% / 5% / 5%NeutralPayout ratios for FY24 / FY25 / FY26 — dividends were irregular.
Bullish paid every year · Neutral when irregular. Never tagged Bearish.
42Share capital change (FY25→FY26)+9.1%CautionPaid-up equity capital changed +9.1% (₹11 cr → ₹12 cr). A fall indicates a buyback; a rise indicates new shares were issued.
Bullish fell 1% or more (a buyback) · Caution when it rose 1% or more (new shares issued). Neutral when unchanged, or for a bonus/split.

G. Ownership

#PointReadingTagCommentary
43Promoter holding74.71% (+2.91 pts YoY)NeutralPromoters owned 74.71% at Jun 2026 versus 71.80% a year earlier.
Bearish fell more than 1 percentage point in a year · Neutral otherwise. Never tagged Bullish.
44Foreign institutional holding6.35% (-0.43 pts YoY)NeutralFIIs held 6.35% at Jun 2026, down from 6.78% a year before.
Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
45Domestic institutional holding13.61% (-2.51 pts YoY)BearishMutual funds, insurers and other DIIs held 13.61%, down from 16.12%.
Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
46Number of shareholders0.6 lakh (-15.2% YoY)NeutralThe shareholder count moved from 0.7 lakh to 0.6 lakh in a year — a rough gauge of retail interest.
How to read: Information only — a rough gauge of retail interest.
47Promoter pledgenone reportedNeutralOur source showed no pledged promoter shares.
How to read: Information only. Any sizeable pledge is a risk to note.

H. Quality & summary

#PointReadingTagCommentary
48Financial health checklist (Piotroski-style, 8 tests)5/8NeutralPassed: positive profit, positive operating cash flow, leverage fell, operating margin improved, asset turnover improved. Failed: CFO > net profit, ROA improved, no meaningful dilution (<3%).
Bullish all tests passed, or all but one · Bearish half the tests or fewer passed · Neutral in between.
49Automated screen flags3 strength(s) · 3 weakness(es)NeutralStrengths: Company has reduced debt; Company is expected to give good quarter; Company has delivered good profit growth of 65.8% CAGR over last 5 years. Weaknesses: Stock is trading at 23.8 times its book value; Promoter holding has decreased over last quarter: -2.91%; Working capital days have increased from 40.8 days to 73.9 days. (Flags generated by the data source’s rule screen.)
How to read: Information only.
50Fundamental summary11 bullish · 1 bearish · 31 neutral · 6 cautionBullishOn the numbers published by 22 Jul 2026 the fundamental picture leaned positive. Valuation: P/E 114.8×, P/B 22.52×. This describes the data, not a recommendation. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell.
Bullish bullish tags beat bearish ones by 4 or more and are at least 1.5× as many (“positive”) · Bearish the same the other way round (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

News in the three months before the snapshot

Company news from 22 Apr 2026 – 22 Jul 2026 that an investor could have known on the snapshot date.

What happened next (22 Jul 2026 → 23 Oct 2026)

Later news

Educational summary. On 22 Jul 2026 the technical picture was mixed and the fundamental picture leaned positive. Over the next three months the stock moved +10.2% against -5.8% for the Nifty 50. A mixed chart gave no clear message, and the outcome shows why mixed readings are hard to act on. One case proves nothing on its own; the value is in seeing many cases over time. This page does not say whether to buy, sell or hold Aditya Infotech today.

Method designed by our founder, CPA · ACCA · CIA. Numbers are computed by our engine from the sources listed below.

Sources: daily prices — Yahoo Finance history pages; financials and shareholding — Screener.in (fetched 25 Oct 2026); index — Nifty 50 via Yahoo Finance; news — linked articles. Calculations by Manage Our Finance. Report a correction

More case studies today

₹1,408.60close 22 Jul
Real estate developerNSE: ABRELData as of 22 Jul 2026

Aditya Birla Real Estate — 100-point case study

Technical
Fundamental

What happened next (3 months): -26.0% vs Nifty 50 -5.8%

Technical: positiveFundamental: negativeP/E -136.9×P/B 4.25×RSI 541Y -34.1%
₹1,002.90close 22 Jul
Asset management companyNSE: ABSLAMCData as of 22 Jul 2026

Aditya Birla Sun Life AMC — 100-point case study

Technical
Fundamental

What happened next (3 months): -11.4% vs Nifty 50 -5.8%

Technical: negativeFundamental: positiveP/E 29.8×P/B 7.18×RSI 331Y +11.8%
₹1,351.30close 22 Jul
Oil, gas & LPG logisticsNSE: AEGISLOGData as of 22 Jul 2026

Aegis Logistics — 100-point case study

Technical
Fundamental

What happened next (3 months): -7.7% vs Nifty 50 -5.8%

Technical: positiveFundamental: positiveP/E 42.9×P/B 7.84×RSI 631Y +79.7%